$BTC: Former SEC Enforcement Lawyer Describes Why “Bitcoin’s Rate Is Increasing”

On Saturday (14 January 2022), John Reed Stark, a professional on digital regulative compliance with 15 years of experience as an SEC enforcement lawyer, discussed why he thinks that over the previous couple of days the Bitcoin cost has actually been increasing.

The President of John Reed Stark Consulting LLC, which “handles cybersecurity jobs and event reaction examinations on behalf of both the federal government and the economic sector” appears to think that the only factor that the $BTC cost has actually been rising in the previous couple of days is because of market control:

On LinkedIn, he composed:

“ A current Forbes analysis of 157 crypto exchanges discovered that 51% of day-to-day bitcoin trading volume being reported was most likely phony (which was simply the pointer of the iceberg). https://lnkd.in/gKu77V_Q

“ Matched trades, cleaned trades, sock puppets and other grift synthetically pump up bitcoin, which is not just an unclear, vacuous, feigned, fake, spurious and ridiculous “digital property,” however likewise includes no balance sheet, no capital, no earnings, no earnings, no losses or any other indicia of financial worth.

“ On the other hand, the bitcoin market runs in the middle of a massive and treacherous regulative vacuum of legendary percentages without any oversight, no customer defenses, no auditing, no evaluations, no evaluations, no net capital requirements, no insurance coverage, no licensure– absolutely no, zilch, no United States federal government guidance or security of any kind. https://lnkd.in/gyW8mdAf

“ It is axiomatic that bitcoin will constantly stay mathematical computational blather, which provides no item, no service or any other monetary advantage of any kind. It’s not simply that the emperor has no clothing, bitcoin traders are banking on the style choices of a poltergeist. It’s all one huge hustle.“

A week back, this is what he blogged about beleaguered crypto bank Silvergate:

“ Silvergate remains in a small club of small banks who supply deposit, fund transfer, security and other services to a crypto-ecosystem that not just runs within a massive regulative vacuum however likewise lives directly in the middle of extensive grift, chicanery and scams. To me, Sivergate belongs to The Continental in John Wick and its collapse promises.“

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